MAJOR oil players dared their competitors to also open their books for public scrutiny a day after offering their financial records to the government.
Sally Monteiro, Philippine Institute of Petroleum (PIP) executive director, on Monday told a press conference that other oil companies should also heed President Benigno Aquino 3rd’s call for transparency in the industry.
“The PIP enjoins all other oil players to heed President Aquino’s call for openness and transparency by also opening their books,” she said.
PIP members include Chevron (formerly Caltex) Philippines Inc., Liquigaz Philippines Corp., Petron Corp., PTT Philippines Corp., Pilipinas Shell Petroleum Corp. and Total (Philippines) Corp. all of which operate in other countries.
Petron, the only local company among the lot, earlier bought a refinery in Malaysia.
On Sunday, PIP issued a joint statement offering books of its members to the government for the review to ensure that they have not been profiteering from their pump price movements.
Company officials present during the press conference, however, said that their financial records are already being submitted to government regulators for compliance with existing protocols.
“This is nothing new, it has been done before [because] we’ve had studies in 2005 and 2008. It is just a matter of putting this data together for the public to understand,” Roberto Kanapi, Shell vice president for communications, said.
But, independent players, or the local firms that entered the market following its deregulation more than a decade ago, scoffed at the majors’ proposal.
Fernando Martinez, Independent Philippine Petroleum Companies Association chairman, said that their group has long opened its books to the government.
He added that talks of big oil firms leaving the country because of mounting public pressure are a way to hold Filipinos “hostage” to their demands. –Euan Paulo C. Añonuevo, Reporter, Manila Times
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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